“If You Want Big Earnings, Buy This Tata Share, Price Surges from ₹50 to ₹235”

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In recent years, Tata Power, a company under the Tata Group, has offered investors significant returns on their shares. On August 6, 2020, the shares of Tata Power closed at ₹49.65, and now they are priced at ₹235.65. This represents a remarkable increase of 375% over the past three years. In comparison, the Sensex, a benchmark index, has grown by 74.38% during the same period. It’s worth noting that the stock faced selling pressure on Monday.

Here’s a breakdown of the returns:

  • In one year, Tata Power’s shares witnessed a 3.49% increase.
  • In the year 2023 alone, investors saw a return of 13.46%.
  • Over the past three months, the stock surged by 15.66%.
  • In a five-year period, the stock has grown by 239%.
  • In comparison to its 52-week low of ₹182.45, the shares are now up by 29%.

The upcoming June quarter results will be announced on August 9. In the financial year 2022-23 (FY23), Tata Power recorded a 48% increase in profits during the fourth quarter, which amounted to ₹939 crore, compared to ₹632 crore in the same period last year. For Q4 FY23, revenue increased by 6% to ₹12,755 crore from ₹12,085 crore in Q4 FY22.

Experts believe that if the current rally continues, the stock could reach ₹300. In the short term, there is an expectation of it reaching ₹245, and it could potentially reach ₹250. Some analysts recommend buying with a stop loss of ₹218 in case of a decline.

Manoj Dalal, the CEO of Proficient Shares, suggested that investors can buy Tata Power with a tight stop loss and achieve the current levels. For those willing to take some risk, buying above ₹250 is an option. In the long term, there is a possibility of the stock reaching ₹300.

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